Saturday, November 29, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Sony's New E-Paper FES Watch Appears Online
Amazon Releases Deals of the Year on Cyber Monday
Germany To Get Secure Phones By BlackBerry
Xbox And Playstation Black Friday Deals
Toshiba Launches ARM-Based Application Processors with Sound, Image Data-Mining and Security Functions
Pioneer To Release The BDR-XU03JM Portable Blu-ray Drive For Macs
Syrian Electronic Army targets CNBC, Telegraph, Independent, PCWorld
GoPro Camera Drones In The Works: report
Active Discussions
Hi All!
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
Copied dvd's say blank in computer only
Made video, won't play back easily
New Features In Firefox 33
updated tests for dvd and cd burners
 Home > News > Mobiles > RIM has...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, April 08, 2008
RIM has another "RIM-arkable" Quarter


BlackBerry maker Research In Motion reported a higher fourth-quarter profit on Wednesday that topped expectations, and delivered a strong outlook that suggested the company is comfortably weathering the slowdown in the U.S. economy.

RIM's shares, which roughly tripled in 2007 but have stagnated since the start of this year, rose 6 percent in after-hours trading as investors reacted to the results, which were also lauded by analysts.

The company said it earned $412.5 million, or 72 cents a share, in the three months ended March 1. That was up from a profit of $187.4 million, or 33 cents a share, in the same period a year earlier.

That beat a forecast made by the company in February, when it told the market to expect earnings of 66 to 70 cents a share, and sent RIM shares higher in after-hours Nasdaq trade.

For the upcoming first quarter, the company said it expects revenue of $2.23 billion to $2.3 billion and a profit of 82 cents to 86 cents a share -- better than the 77 cents expected by analysts, according to Reuters Estimates.

Canaccord Adams analyst Peter Misek said the "monster" results are even stronger because of RIM's first-quarter forecasts in the face of a faltering U.S. economy.

"What's impressive is that, given the macro environment that they know about, they guided this strong," he said.

Some analysts have raised concerns that job losses in corporate America would lead to slower sales of the BlackBerry, a staple device of most executives. As well, observers have warned that companies and big government departments could delay upgrading to newer versions of RIM's smartphone lineup.

"To achieve these numbers in what looks like a U.S. recession is a big positive surprise for investors, many of whom had worried that a slowdown would hurt RIM," said Duncan Stewart, president of Duncan Stewart Asset Management Inc. in Toronto.

RIM's shares haven't made much progress this year as investors weighed the potential impact of the slowing U.S. economy and stiffer competition from the likes of Apple Inc , Motorola and Nokia .

However, in the wake of Wednesday's earnings report, the shares rallied 6 percent from their regular session close of $115.79 on Nasdaq to hit $122.90 in after-hours trade.

The after-hours rise was relatively muted when compared to reactions in prior quarters, when the stock has jumped more than 10 percent, implying investors remain cautious despite the strong results.

The stock closed at C$117.63 in Toronto, down C$2.47 or 2 percent.

RIM co-Chief Executive Jim Balsillie said strong growth in the consumer market during the quarter was helped by telecom company promotions that lured more users to multimedia-rich models of the BlackBerry, such as the Pearl.

He added: "It is important to note we did not see any evidence of slowdown in our enterprise business outside of normal seasonal trends."

National Bank Financial analyst Deepak Chopra characterized the results as "very strong" on all fronts and said RIM was benefiting from wireless carriers increasingly looking to data revenue from services like text messaging and wireless e-mail to supplement voice revenues.

"I think obviously we always have to be conscious of the economic downturn," he said. "But I think the secular trend of data more or less remains intact."

RIM said it added 2.18 million subscribers during the quarter, on the high end of its earlier predictions, and that the total number of BlackBerry subscribers has surpassed 14 million.

The Waterloo, Ontario-based company said revenue more than doubled to $1.88 billion from $930.4 million a year earlier.


Previous
Next
CyberLink PowerDVD Ultra Supports BD-Live        All News        iPhone browser to be updated soon
Samsung to Launch High-speed HSUPA Cell Phone     Mobiles News      iPhone browser to be updated soon

Get RSS feed Easy Print E-Mail this Message

Related News
Germany To Get Secure Phones By BlackBerry
Trade Your iPhone for BlackBerry Passport And Get $550
BlackBerry Focuses On Enterprise Mobility
Updated BBM Offers More Privacy, Control and More
BlackBerry CEO Creates Buzz Ahead of Classic Launch
BlackBerry Report Quarterly Loss, Focuses To Growth
Square Blackberry passport Released And Does Not Become Bent
BlackBerry Passport Launches Tomorrow
Blackberry Introduces Elegant Porsche Design P9983 Smartphone
BlackBerry Acquires Movirtu, Eynvisions A BBM Smartwatch
BlackBerry Establishes New Unit For Patents, Software
BlackBerry Gets New Government Approval for Multi-Platform Management

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .